Jim Wilson/The New York Times New Zealand’s team practicing in San Francisco Bay, site of this year’s America’s Cup yacht race. More Photos » SAN FRANCISCO — Victory in the America’s Cup of 2010 gave Larry Ellison, the tech titan who had spent hundreds of millions of dollars trying to capture sailing’s ultimate prize, the right to set the rules for this year’s regatta. Mr. Ellison, whose Silicon Valley software company, Oracle, has made him the world’s fifth-richest man, decided to bring the race home to the postcard-perfect, television-friendly San Francisco Bay, promising a sporting event that would showcase the city and transform its waterfront. But another decision — calling for the design of extremely expensive, sophisticated and fast 72-foot catamarans that would, for the first time in the history of the 162-year-old competition, fly above the water in high winds in a maneuver known as “foiling” — immediately raised worries about cost and safety. Now, with just weeks left…Read More

Other reasons to help

S Turning an entire region into a playpen for rich technologists sounds good on paper, sure, and everyone with a view of the water loves a good boat race—but at what cost? Five and a half million dollars to Californian taxpayers. That's the cost! The San Francisco Chronicle crunched the numbers, and they are not good: San Francisco is still…Read More

Larry Ellison's Oracle Team USA is fighting to defend its America's Cup trophy after being dinged for making illegal modifications to the team's 2012 yacht. NEW YORK (CNNMoney) Larry Ellison made $96 million last year as CEO of Oracle. So a $250,000 fine levied this week against his Oracle Team USA yacht racing team won't make a dent. But…Read More